Another solyndra bites the dust!!

[Jackson]

Yet Another DOE Green Failure as Abound Solar Goes Bankrupt

The latest example is Loveland, Colo.-based Abound Solar, which only four months ago laid off 70 percent of its employees in what it said was a plan to upgrade its plant to manufacture more efficient solar panels, with plans to restore production levels and rehire most employees within six to nine months.

Yesterday – hidden under the news that the Supreme Court upheld Obamacare – the company released a statement that said it would end operations next week, liquidate, and make unemployed its remaining 125 workers.

The Department of Energy had awarded Abound a $400 million loan guarantee, $70 million of which it had used. DOE spokesman Damien LaVera said in a weak, meandering defense of the loan program that the cost to taxpayers would be only $40 million to $60 million after Abound’s assets are sold. Don’t you feel better?
But in December 2010, when DOE had closed on the loan to Abound to fund future operations in Colorado and Tipton, Ind., Energy Secretary Steven Chu was unequivocal.

At the center is wealthy Colorado philanthropist Pat Stryker, whose Bohemian Companies had significant investment in Abound. News Web site The Complete Colorado revealed “fingerprints” of a “pay-to-play agenda” when Abound received its conditional approval in September 2010.

Stryker had donated $475,599 to federal Democrat candidates and causes over the 2008 to 2012 election cycles, according to the Center for Responsive Politics. Included in that amount was:

maximum contributions to President Obama’s two campaigns for the White House,

an $87,500 bundler for the president’s Inaugural Committee,

she donated $50,000 herself.

she gave $35,800 to the 2012 Obama Victory Fund, I

In October 2009 Stryker also visited the White House.

Stryker also has contributed millions of dollars to Democrat candidates for state and federal

office in her lifetime.

Yet Another DOE Green Failure as Abound Solar Goes Bankrupt | National Legal and Policy Center

No cronyism in this Whitehouse. I’m tired of this cronyism!!! We need some integrity and honesty in the next administration.